Freedom of speech and defamation law are sometimes in tension with each other. Freedom of speech holds that people should be free to say what they want without fear of reprisal. Defamation law holds that people can be held liable and forced to pay for harm caused by false statements…
Chicago Business Litigation Lawyer Blog
The Downside of Going into the Family Business: When Family Problems Become Business Problems
Leprino Foods Co. is the largest manufacturer of mozzarella cheese in the world and is solely responsible for making all the mozzarella that goes on top of Domino’s, Papa John’s, and Pizza Hut’s pizzas. It’s worth billions of dollars, but it’s also a family business. It was founded in Denver,…
Company Owed $92 Million in Taxes After Making Bad Loans to Founder’s Son and Attempting to Write them Off
A business made loans to the son of its founder and never required the loans to be repaid. The business later attempted to write off the loans as bad debts or as ordinary and necessary business expenses. The IRS pursued the business, seeking $92 million in back taxes. The company…
Appellate Court Tosses Share Valuation Utilizing Marketability and Control Discounts in Forced Minority-to-Majority Sale
Business partnerships sometimes come to an end. As we have written about previously, it is important going into a partnership to have an agreed-upon exit strategy in place. However, as a recent decision from an Indiana appeals court highlights, it is important for business partners to not only include exit…
Illinois GOP Sues Governor Over Covid-19 Restrictions and Loses
After the governor of Illinois issued an executive order banning gatherings greater than 50 people due to the SARS-CoV-2 pandemic, the Illinois Republican Party sued. The state GOP alleged that the order’s carve out for religious services violated the Free Exercise Clause of the First Amendment because it privileged religious…
Winemaker Sues Ex-Employee for Starting Competing Business During Tenure
An employee of a wine-making company was sued by his former employer for starting a competing business while he was still serving as the company’s president. The company also alleged that he misused his position as president to sell the same wine under the company’s brand and the brand of…
Manufacturer of Hearing Implant Technology Went from Promising to Distressed
Envoy Medical is a medical device manufacturer based in Minnesota with technology that has the ability to restore hearing to the deaf. Unfortunately, the company’s prospects were allegedly cut short after Glen Taylor took over as CEO, which not only caused financial harm to the company but denied life-changing technology…
Two Major Luxury Brands Were Scheduled to Merge, But There’s Been a Hiccup
LVMH Moët Hennessy-Louis Vuitton SE was scheduled to acquire Tiffany & Co. no later than August 24th, 2020, but the merger came to a halt when LVMH failed to even apply for antitrust clearance. Antitrust laws exist to avoid monopolies. If two major companies merge to form one company, there’s…
The Legal Battle Over the Game “Fortnite” Continues Between Apple and Epic Games
Apple’s app store is one of the most popular in the world, which means you need to play nice with Apple if you’re creating an app and you want to get in front of the millions of people who use Apple’s store to download apps. But Apple takes a percentage…
Supreme Court Rules that Nonsignatory to International Arbitration Agreement Can Compel Arbitration under Domestic State Law
In a unanimous opinion, the U.S. Supreme Court recently ruled that allowing nonsignatories to an international arbitration agreement to compel arbitration through domestic equitable estoppel doctrines does not conflict with the signatory requirement of the U.N. Convention on the Recognition and Enforcement of Foreign Arbitral Awards (known as the New…